Miracle Mile Advisors LLC Makes New $2.55 Million Investment in Trane Technologies plc (NYSE:TT)

Miracle Mile Advisors LLC acquired a new stake in Trane Technologies plc (NYSE:TT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,898 shares of the company's stock, valued at approximately $2,548,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Wedmont Private Capital increased its position in Trane Technologies by 4.8% during the fourth quarter. Wedmont Private Capital now owns 2,983 shares of the company's stock worth $1,125,000 after acquiring an additional 136 shares during the period. Fiduciary Alliance LLC acquired a new position in shares of Trane Technologies during the 4th quarter worth approximately $838,000. Czech National Bank increased its holdings in shares of Trane Technologies by 6.1% during the fourth quarter. Czech National Bank now owns 48,790 shares of the company's stock worth $18,021,000 after purchasing an additional 2,819 shares during the period. Hilltop National Bank raised its position in shares of Trane Technologies by 0.7% in the fourth quarter. Hilltop National Bank now owns 6,140 shares of the company's stock valued at $2,268,000 after buying an additional 40 shares in the last quarter. Finally, ST Germain D J Co. Inc. boosted its stake in shares of Trane Technologies by 9.1% in the fourth quarter. ST Germain D J Co. Inc. now owns 4,053 shares of the company's stock valued at $1,497,000 after buying an additional 337 shares during the period. Institutional investors own 82.97% of the company's stock.

Insider Activity

In related news, SVP Mairead Magner sold 4,329 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the completion of the sale, the senior vice president now directly owns 12,893 shares in the company, valued at $5,363,488. This represents a 25.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.38% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Robert W. Baird decreased their price target on Trane Technologies from $408.00 to $404.00 and set a "neutral" rating on the stock in a research note on Thursday, October 31st. Barclays lifted their price target on shares of Trane Technologies from $440.00 to $500.00 and gave the stock an "overweight" rating in a report on Thursday, December 5th. HSBC cut Trane Technologies from a "buy" rating to a "hold" rating and set a $405.00 target price on the stock. in a report on Thursday, October 31st. The Goldman Sachs Group raised their price target on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a "neutral" rating in a report on Wednesday, October 9th. Finally, Mizuho boosted their target price on shares of Trane Technologies from $325.00 to $400.00 and gave the company a "neutral" rating in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Trane Technologies presently has an average rating of "Hold" and a consensus target price of $414.43.

Trane Technologies Price Performance

TT stock traded up $5.62 during mid-day trading on Tuesday, reaching $382.60. 1,002,809 shares of the company traded hands, compared to its average volume of 1,151,626. Trane Technologies plc has a 52-week low of $242.81 and a 52-week high of $422.00. The company has a market capitalization of $86.09 billion, a P/E ratio of 35.49, a P/E/G ratio of 2.38 and a beta of 1.06. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. The company has a fifty day moving average price of $396.47 and a 200-day moving average price of $372.50.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.23 by $0.14. The firm had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The company's revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter last year, the company posted $2.79 EPS. As a group, analysts anticipate that Trane Technologies plc will post 11.13 earnings per share for the current year.

About Trane Technologies

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.